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Economy


Morocco's Entrepreneurial Ascent: Leveraging Data-Driven Policies for a Thriving Startup Ecosystem

Morocco's strides in fostering entrepreneurship are underscored by recent findings from the esteemed Global Entrepreneurship Monitor (GEM). According to the latest data, the North African nation has ascended five places to rank 30th globally in GEM's evaluation of national entrepreneurial conditions. GEM's......

Starbucks Explores New Ownership for MENA Franchises

In an exclusive report by Reuters, coffee giant Starbucks is currently in discussions to transfer a portion of its franchise rights in the Middle East, North Africa, and Central Asia to US investment firm Apollo Global Management. Presently, the Kuwaiti conglomerate Alshaya oversees nearly 2,000 Starbucks......

Bitcoin Surges Beyond $45,000 in Crypto Resurgence

Bitcoin has surged past the $45,000 mark for the first time since January 12th, buoyed by renewed confidence in the cryptocurrency market. This recent rally comes amidst a growing lack of trust in regional American banks following last year's banking crisis. Investors disillusioned with traditional......

Morocco Showcases Abundant Produce at Europe's Premier Trade Fair

Morocco has asserted its prominence among the world's foremost fruit producers this month at the 31st Fruit Logistica Fair in Berlin, held from February 7-9. The country's delegation, representing over 20 years of participation in this premier international event, highlighted Morocco's agricultural......

EIB Invests €115 Million in Advancing Sustainable Technology Parks in Morocco

This significant initiative aligns with the Moroccan government’s new economic model and industrial acceleration strategy aimed at positioning Morocco as a leader in sustainable development. MEDZ, the wholly-owned regional development subsidiary of Morocco’s CDG Group, is set to receive €115......

Discrediting Claims of a Widespread Snapchat Hack

Earlier this week, IT security expert Amin Raghib sparked panic across social media by alleging that numerous Moroccan women had their Snapchat accounts hacked. Raghib claimed hackers targeted women's smartphones and distributed their private, "indecent" photos and videos online. However,......

Expansion of Kenitra Export Zone to Address Increasing Investor Demand

The Moroccan government has recently sanctioned the expansion of the Kenitra export processing zone in response to burgeoning investor interest in the region. In an announcement made on Thursday, following a meeting presided over by Prime Minister Aziz Akhannouch, the government disclosed plans to augment......

Aya Gold Nears $67 Million Funding Deal to Propel Moroccan Mining Ventures

Canadian mining powerhouse, Aya Gold & Silver, stands on the brink of securing a substantial infusion of capital to drive its Moroccan operations to new heights. On Tuesday, the company unveiled a pivotal agreement with multiple partners for the acquisition of 6.6 million common shares at $10.25......

Moroccan Customs Achieve Marginal Gains in 2023 Despite Revenue Fluctuations

In the realm of Moroccan customs, 2023 marked a year of modest progress, with recent data revealing a slight uptick in overall revenues amidst fluctuating streams of income. Despite facing some ups and downs, the total net customs revenues for 2023 reached 84.49 billion dirhams ($8.3 billion), showcasing......

Predator Oil & Gas Extends Rig Contract to Tap Into Morocco's Gas Reserves

Predator Oil & Gas has solidified its partnership with Star Valley Rig 101 to delve deeper into Morocco's gas-rich reservoirs. The Jersey-based exploration company has prolonged its contract with the rig, now slated to continue operations until May 2024, to execute its fifth well in the Guercif......

Spotify Surpasses 600 Million Users, Anticipates First Profitable Quarter

In a crescendo of rapid user growth, Spotify, the music streaming, has surged past the 600 million monthly listeners mark in the fourth quarter of 2023. This milestone heralds a significant moment for the Swedish audio powerhouse, as it forecasts its inaugural profitable quarter in early 2024, signaling......

Morocco Pioneers Sustainable Investments for a Greener Tomorrow

RABAT - In a recent press briefing, UN Deputy Secretary-General Amina J. Mohammed lauded Morocco for its exceptional commitment to environmental sustainability and clean energy, positioning the nation as a beacon for other developing countries in the fight against climate change. During her address......

ONCF Denies High-Speed Contract Award for Marrakech-Agadir Line

The Office National des Chemins de Fer (ONCF) swiftly addressed today's misleading reports suggesting a Chinese company was set to secure the contract for constructing the new high-speed rail line connecting Marrakech to Agadir. In a decisive press statement, the national railway operator clarified......